Section One INVESTMENTS IN JOB-SECURE WORKFORCES..........
Companies also invest in their human resources when they
keep employees on the payroll through business downturns.
Nonetheless, by the 1980s and 1990s, it became clear that
employment security policies were often untenable, and
downsizing became a daily feature of the business press.
However, companies differed in the extent to which they
resorted to downsizing or layoffs as many of the best ones did
little or no downsizing. Although some companies provide
employment security to enhance their chances of remaining
union free, others provide such security for other workforce
advantages. Increasingly, companies find that they must
operate in environments characterized by rapidly evolving
technological change, compressed product life cycles, and
heavy emphasis on quality. In many such environments,
greater employment security helps companies obtain the
commitment, flexibility, and motivation needed from their
workforces.^65 Indeed, three of Fortune’s 100 best companies to
work for have official no-layoff policies—Southwest Airlines,
Harley-Davidson, and FedEx—and another, Hewlett-Packard,
has been a leader in workforce security for decades.^66